The conservation of Forex, resuscitation of domestic fishery industries and improved employment generation are some of the reasons the Central Bank of Nigeria (CBN) has given for the continued restriction of Stockfish from accessing Forex.
Speaking at the just-concluded Norwegian Seafood Seminar held in Lagos Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji said that the apex bank had to include stockfish among the 43 items that have been restricted from accessing Forex because scarce foreign exchange currently being experienced in the country.
Nnaji also said that the move was also meant to grow local fishery capacity of Nigerian with a view to exporting Nigerian aquatic products.
He said: “CBN in an effort to conserve scarce foreign exchange restricted access to 43 items including stockfish in 2015.”
Meanwhile, Mr Trond Kostveit, Director Africa, Norwegian Seafood Council, urged the Federal Government to reconsider the removal of stockfish from the list to promote ease of doing business as the Council, about three years ago started building indigenous capacity in Nigeria.
“We started the process three years ago to see if it is possible to delist stockfish from foreign exchange ban because there are many good arguments why the product should not be on the list.
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“The forex ban has made the price of stockfish in local markets quite expensive, especially for consumers.
“The cost of getting forex at the parallel market is taking a toll on stockfish imports. For consumers, stockfish heads are the only source of proteins.
“It will be very beneficial if we can get access to the official exchange rate and thereby, reduce the cost of the fish for consumers,’’ Kostveit said.
He noted that Norway was not competing with any Nigeria local fish species.
“We understand the ban is made to promote local aquaculture production but the product is not a threat to Nigerian aquaculture.
“When we tried to say that stockfish has become such an important part of the Nigerian diets and it is very important, that we make it cheaper.
“So, we will continue this appeal and hopefully, we can see that soon it is possible to delist stockfish from the foreign exchange ban,” he said.
Mrs Abbey Cheke, a fishery expert and Consultant to the Norwegian Seafood Council, said that the council would continue to promote aquaculture until the government intervene on the ban.
Cheke reiterated that stockfish was not competing with Nigeria fish by any standard hence, the need to delist it from the forex ban list.
“We understand the need to promote development of non-oil sectors in Nigeria, and we will continue to seek areas of assistance and collaboration for aquaculture sector.
“Stockfish is the cheapest source of protein in this country, we are praying for its delisting from foreign exchange ban because Nigeria does not import more than 10,000 tons yearly.
“At the Norwegian Seafood Council, we are also doing a lot of Corporate Social Responsibility locally to assist Nigeria step out of mono oil exports.
“We are assisting Nigeria to get aquaculture produce like tilapia and catfish unbanned from the European markets and other international markets in the U.S,” she said.
A major importer of stockfish, Mr. Gregory Ilobinso however countered the CBN saying that the volume of forex needed by importers is infinitesimal adding that the restriction has increased the cost of the product in market.
Ilobinso also said that more Nigerians now import the stockfish heads because the body has gone beyond the reach of the common Nigeria.
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